Key facts
- Eli Lilly raised its full-year revenue forecast to $85 billion-$87 billion.
- The company's previous forecast was $82 billion to $85 billion.
- Strong demand for its weight-loss and diabetes drugs is driving the increased forecast.
- Eli Lilly's Zepbound and Mounjaro sales surpassed expectations in the second quarter.
- Rival Novo Nordisk also recently hiked its full-year profit and sales forecast.
Eli Lilly and Co raised its full-year revenue forecast on Wednesday, driven by sustained demand for its blockbuster GLP-1 weight-loss and diabetes drugs. The company now anticipates revenue between $85 billion and $87 billion, an increase from its prior projection of $82 billion to $85 billion. This upward revision follows a similar move by rival Novo Nordisk, which also hiked its full-year profit and sales forecast, aiming to regain market share in the lucrative obesity sector with its oral Wegovy pill.